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>> we are back with bowl ads that help you score big profitings. >> anheuser. they're the big keg in this industry. 40 billion in sales and 200 brands. >> morgan you like beer. >> it is risky and slapped with an antitrust suit.
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>> you are for pepsiip have a can of coke. >> they have beyonce. >> what do you think emac. >> it is squeezing profit margins. >> and looking at the balance sheet. >> and ladies, thank you for joiningugs thampts is it it for forbes on fox . keep it right here. number one business block continues with eric boling and cashin in. >> the naption's debt. are democrats trying to play it down? >> i am not going to cut the discretionary budget which by the way is not out of control despite what you hear on fox news. >> now before we get to our panel, we are pounding the pavement. a democratic senator said key spending is not out of control. >> i think it is a bold-faced
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lie. >> i am fed up. >> what do you think of dc spending >> outs of control. out of control. >> dc spending what do you think? >> totally outlet of control. if i have to be fiscally responsible why don't they? hello everybody. i am eric boling and welcome to cashin . joining us monica crowley . former cram cram cess tech. who is right. mary landrew who said we are making this up or people on main street; johnathon? >> has a spending problem. every dollar that it spends is taxed or borrowed and it is taxed from we the people. government spending is
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destructive to the economy. whether it is it discretioninary or not it needs to change now. >> it doesn't matter if it is. feven even if it is it a million bucks here and there. and eric it is worse than that. up said millions and millions, we are in the trillions. it is it an express of 3 trillion . a third of that is it being borrowed. we are spending way out of control and here is a bar chart. i don't know if you can see this right here. the dark part here is it what we are borrowing each year. that is a third of the amount much money . it is it outrageous and they can cut it in every place and they don't do it. >> you can stee the crazy thingings we are spending our money on.
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chinese swine study. 141,000. let's lookalt the next one. jordanian hooka habitings whampt is that? and reality tv show in india we spend 20 million and amtrak food beverages. 84 million. cram cramcongressman, we have a spending problem. ntake the labor department. you would think that that is one department that is responsible for training our adults. it is it 18 billion and under nine anings e agencies and 47 different programs. they were duplicative and serving the same community with the same type much programs . take the defense department. you know we had and you just talked about programs that were a few million dollars.
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defense department had cost over runs of 350 billion dollars in 2008 programs. costing out a aircraft for 11 billion. the confidence we had in the defense department that that was the right price. but my point is, we sold it to congress and we have cost overruns. >> i am going to let tracey jump in here. defense department keeps us safe. i am not sure. >> i am up night wor're worries about the jordan hooka. what bothers me most is the denial part of it all is well and why need a versionful alcoholics anonymous. hast halfful them don't believe we have a problem. >> one . outrage is a u.s. senator centered on the senate floor and calm would fox out for
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saying we make it up. >> government has never been able to control itself. there is no profit motive with the government and no incentive for efficienciy. since the end much world war ii presidents and congresses have had federal spending 18 and 21 percent of gdp. under president obama and harry reid and nancy pelosi that exploded. it is 25 percent of the gdp. discretionary and entitlement spending, we have record-breaking deficits. no one is stopping it. nwe have a spending problem. we don't have a revenue problem. johnathon first. >> yeah, we don't, eric we tax enough and so much of what our tax dollars go to are not specified in the constitution. to the congressman's point.
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it is specified in the constitution. food stamps and fema and epa and healthcare and all of the other money is found no where in the constitution . it is it basically taxing people's lives . until congress gets that out of their head when they tax and borrow, they are hurting individual americans . it is getting out of the control. >> congressman can why gree we have a spending problem and not a revenue. >> we have. as the commission said we should do spending reductions and two dollars of every tax dollar . if i could. there are stow many, look at glaxco smith kline . 7 years they had hid from the fda. >> let's stay on topic congressman. stay on topic.
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wayne, let a talk about we sphent 5.8 trillion in the last four years and what do we have for it . a negative gdp growth this quarter . i say we have a spending problem. >> of course, we have a sphending problem. with all due respect, congressman, you do i want address it and no one stands up in congress and says this. it jumpt continues . for example, thape push would off the cliff again and they have to do . somebody has to stand up and have guts if you will forgive the expression and do something right by the american people and forgetting about it and monica you talk about gdp. the public doesn't know about gdp. they do know that wer spending more than taking in . it is costing taxpayer money and we need something and have to have something.
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there are no need. the need is it cut our spending. >> monica you want to spot. >> talk about political courage. one guy who had the political courage to come out and talk about entitlement reform and talk about trying to get this congress under control and spending under control. paul ryan. he was demonized by the democrats and dema goged by the left wing media. we need more like him to fight for this stuff. >> eric. up need term limitings. as long as you have people in congress that are older than we you never get anything done. you keep taking rent and money out of the paycheck. i have no money to spend . i can't help the economy. >> when we had the bush tax cuts as you well know monica.
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that tracey talkug actually . in the bush administration and president bush did fine thingings. he cut alm of those taxings and didn't pay for them in medicare and what we ended up a slowest gdp growth stince world war ii. you also have to have the proper spending on the right types and protect our border. >> congressman. >> make sure our management is accountable with want spending. >> but congressman, you advocated for the bail outs and tons of stimumus and fox business and advocating for more stimulus spending. let him talk, congressman. >> and that's why i did it same as president reagan. >> we'll have to leave it there. how would you like to rake in only a million buckings. you pay one public teacher to
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do that. is this approach union protection is out of control. >> and the battery maker is given our green and now green lighting it to china. >> i will not cede the wind or solar to china or germany because we will refuse the same commitment here . [ male announcer ] i've seen incredib things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪
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>> hello eeveryone. i am uma from washington. they're expected to hold a news conference and update on the hostage drama that continue to play out . huge kidnapper -- the accused
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kidnapper and five year old is r five-days. >> and talks will only happen in iran is it serious about them. he made conference in germany. and back in this country. there is it leads of a prosecutor who was kill would on thursday morning what would president reagoon say about the current immigration debate. see you then. >> paid by you and me the taxpayers. new york city teacher is about to earn a million buckings for doing nothing. he was booted out of the classroom over allegations of
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sexually harassing students. he can't get fired and he does office shores for 85,000 a year. >> this would not happen in the private sector. incompetents is regrarded . it is shameful for the man to have this job. i think once again we need to stee there needs to be a move to put a mark based process in education . if schools are underperforming hit the breakings. >> what do you say monica. >> they are adult mersion of time out for kid. this would never happen in the private sector. cost is so outrageous. new york city alone 2012 cost
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taxpayers 20 million to keep the rubber rooms going . another million for substitute teacher and doesn't include the cost for taxpayerings. >> while we wait to find out if the kids were harassing the kids they're being paid. >> the system is laughable. there are amazing teachers out there and that's not what we talk about. we talk about the cracks in rubber rooms. stop paying the people. who cares about the loop holes. >> this is outrageous . what we have to do is step back and look at it. five percent and tracey is spot on.
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think about this. the best nations in the world that has the highest in education have are you percent of the teachers come from the one-third of college graupts . finland has it is teachers in the top 10 percent . we only get one-fourths. >> what are suggesting. we increase wages for teacherings. >> let me tell you what we suggest. we should recognize that the teacher is a great investment. >> no one is it -- they're great ideas. how do we pay for it >> thank you, i am just trying to get through them. charter schools, there are three percent of all schools in america.
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cherish that for innovation. 97 percent of our schools are not . take the examples like dricts and show teaching ways and what we did in long beach, california. >> i have to get wayne in here. the congressman makes great points but it has to be paid for. >> that's true eric and i am not so sure it is always the union's fault. if is it decided by a so falled envelope person that does an investigation . they have to find out what it is it. now in the private sector you would have a lawsuit. maybe instead of putting a guy in a rubber room and pay eight chillon. you have a lawsuit . if the district said we'll defend this .
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you have to have a better method of dealing with not everybody is it right. >> wayne, thank you for that last final tying . coming up. sold to the highest bidder. bucks didn't save it and now they are letting the battery maker fall in china's hand and if anyone in dc ask the chinese how they will use our technology? so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... officemax. has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy.
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>> remember when president obama said this? >> i would not cede, the wind, solar or battery interesting to china or germany because we refuse to make the same commitment here. >> why did they put green battery maker to chin a. >> wayne, kick it off? >> i caint help but laugh. the president if you will forgive me is full of it meanwhile, fis car who got all of things and solyndra and spinning all of that money down the drine . a, one, two three systems and being sold to china. he's doing the opposite of what he said.
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this is outrageous where we should cutting. >> never before have they supported the successor. they are doing it and congressman. is there a defense risk to selling to china? >> not in this case. largest lithium owned company and batteries for the most advanced aircraft . that is batteries to put in the satellite. we need to be number one and resale to other countries. >> and that could be through. they shouldn't be making business decision with taxpayer dollars. and we have to go to
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johnathon. >> high did 1. to to battery makes. we give f16s for free and the problem is not selling it to china but the u.s. taxpayer wasted money on the green energy. >> way to wrap that up. and thank you to the former congressman for joiningugs this week . coming up a new video showing american workers of how to protect themselves from violence on the job. it is raising more quis about spending than protection.
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upon time for what i need to know for next week. wayne kick it off. >> one of the problems in the press we talked about having the commissions and not

Cashin In
FOX News February 2, 2013 8:30am-9:00am PST

News/Business. A practical look at money management. New. (CC)

TOPIC FREQUENCY China 7, Eric 3, Slimful 2, Cashin 2, Eric Boling 2, Tracey 2, Us 2, U.s. 2, Reagoon 1, Fema 1, Jordan Hooka 1, Crowley 1, Smith Kline 1, Nancy Pelosi 1, Tracey Talkug 1, Paul Ryan 1, Harry Reid 1, Pepsiip 1, Obama 1, Mary Landrew 1
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